Level Term Life Insurance

Author: Alan Hope
Source: download

Level Term Life Insurance is a cost effective way of arranging life assurance.
Level Term Life Insurance is often used for family protection purposes by providing life insurance cover in the event of the death of the life or lives assured for the benefit of the surviving spouse and, if there are any, the dependant children.
The amount of life cover provided is often agreed upon after receiving advice from a financial adviser who will assess a family’s requirements taking into account a number of factors.
The amount of Level Term Life Insurance remains level for a specific term i.e 25 years and is arranged normally on a sole life or joint life first death basis with the premium often remaining constant throughout the term.
If the life assured outlives the term then the Level Term Life Insurance policy normally finishes and the life policy pays out nothing. This is one of the reasons why Level Term Life Insurance is normally cheaper than say a Whole of Life policy.
Level Term Life Insurance is also used to cover personal and business liabilities such as overdrafts.
Critical illness cover can sometimes be included in the Level Term Life Insurance policy to pay out upon one of the assured being diagnosed with a specific critical illness.
Alan Hope operates a lifestyle management and concierge services business for both UK and overseas clients. Please visit his website at http://www.arrangeitlifestylemanagement.co.uk.

Life And Health Insurance

Author: Gary Tallon
Source: isnare.com

Buying life and health insurance products is something that many of us keep putting off for as long as we possibly can. We know that we should buy into these insurance policies but we tend to shelf the idea, preferring to live for today rather than plan for tomorrow. Rather like an ostrich sticking its head in the sand, a lot of us it seems choose to take our chances in the hope that our circumstances will never merit the use of life or health insurance. But it can be an awfully big gamble to take.

Advantages of a life and health insurance policy

As we get older we often become more susceptible to health problems, disability and poor mobility; eventually of course we will all die. Both situations are naturally very distressing for family and dependants. However, the situation can be made worse if the ill / deceased was the main income producer and there are still bills to pay. The last thing anybody wants in this situation is to have the bailiffs knocking at the door, or your home repossessed because you cannot keep up your mortgage repayments.

A life and health insurance policy combines cover for the likely and the inevitable. By opting to take out a life and health insurance policy you and your family will have peace of mind that should you become critically ill or die during the term of the policy, your family and dependants will be financially secure. There will be no worries about bailiffs or repossession orders and through the health insurance side of the policy you’ll be able to select a level of quality health care to suit your needs rather than relying on treatment through the NHS.

Cover provided by a life and health insurance policy

The cover provided by a life and health insurance policy is quite comprehensive. On the life insurance side of the policy you will be able to choose between a term life insurance product and a reducing or decreasing life insurance product.

Term life insurance via the policy pays out a fixed lump sum upon the death of the policyholder, providing the insurance policy is still active. A reducing term life insurance policy is a type of insurance where the amount paid out upon death reduces to zero in line with the policyholder’s mortgage balance, and is suitable only as a financial instrument with which to pay off the mortgage in the event of an early death. If you want to leave your loved ones in complete financial security then a term life option on the policy is recommended.

The health insurance part of the mega insurance policy provides comprehensive health care. It will cover you for all diagnosis, treatment and recovery costs associated with the illnesses, disability and diseases noted on the mega policy. Health insurance also means that you do not have to wait for treatment on the NHS. Instead, you will be able to select when and where you want to receive treatment, so tailoring it to your own convenience.